Luis Sanchez Abarca Secures $2.1M Construction Loan From RBI For Development Site In Miami
FINANCED
$2,100,000
Florida
See Similar DealsDevelopment Site6,425 SF
Financed 04/10/2025
FINANCED
Luis Sanchez Abarca Secures $2.1M Construction Loan From RBI For Development Site In Miami
1500 Southwest 19th Street
See Similar DealsDevelopment Site6,425 SF
Financed 04/10/2025
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$326
Total Square Footage:6,425 SF
Transaction Type:Loan
The asset involved in this transaction is a development site located at 1500 Southwest 19th Street, Miami, covering an area of 6,425 square feet. The financial arrangement includes a loan amount of $2,100,000, classified as a construction loan with a duration of 2 years.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,100,000
- Lender: RBI
- Landlord: Luis Sanchez Abarca
- Broker: Nelson Lopez - LendingwithNelly
The loan is facilitated by lender RBI, with Luis Sanchez Abarca acting as the landlord in this transaction. The representation of the deal is provided by broker Nelson Lopez from LendingwithNelly, ensuring coordination between the parties involved.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,100,000.00
Monthly NOI$14,000.00
Monthly Debt Service$13,273.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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